Post Bank, WENIPS launch wendi mobile financial platform in West Nile
He added that this partnership will foster a more inclusive financial landscape, contributing to economic growth in West Nile and Uganda as a whole.
Nebbi: In a significant move to enhance financial inclusion in the West Nile region, Post Bank, in collaboration with the West Nile Private Sector Development Promotion Centre Ltd (WENIPS), has launched the Wendi Mobile financial platform.
This initiative aims to incorporate over 7,500 Savings and Credit Cooperative Organizations (SACCOs) and village savings and loans associations from the districts of Nebbi, Yumbe, Arua, Koboko, Moyo, and Adjumani.
Launched in 2023, the Wendi mobile wallet is designed to provide secure and convenient financial services, targeting underserved communities and facilitating efficient fund management.
Patrick Okwi Osakan, Post Bank’s regional distribution head for the Northern and West Nile region, encouraged local savings groups to adopt this innovative solution, highlighting that it offers a daily interest rate of 10%.
Osakan noted that improved electricity reliability in West Nile, combined with Wendi’s digital services, would facilitate the digitization of informal savings mechanisms. The platform is particularly beneficial for residents who lack traditional bank accounts, allowing users to access a comprehensive range of services without needing one.
Onegi Jenaro Oringi, CEO of WENIPS, emphasized the platform’s focus on community engagement, specifically targeting village savings, youth groups, and women’s groups. He expressed that Wendi encourages saving and borrowing, empowering individuals to manage their finances effectively and fulfill essential needs such as food and education.
“This user-friendly digital system will provide affordable services and secure management of funds,” Oringi said. He added that this partnership will foster a more inclusive financial landscape, contributing to economic growth in West Nile and Uganda as a whole.
Ronald Owacgiu, the Assistant Resident District Commissioner of Nebbi, welcomed the partnership, aligning it with President Museveni’s Vision 2040. He urged community members to embrace this initiative to help achieve a middle-income economy.
Muhamad Adrisi, a SAACO group member from Nebbi Municipality, praised the initiative, stating that it would prevent financial losses from poor money management practices and enhance secure savings.
With over 1.3 million subscribers nationwide, Wendi mobile wallet is licensed under the National Payments Systems Act and is available on Google Play, the App Store, or via USSD by dialing *229#. The platform has also facilitated the payment of Parish Development Model funds and provided relief funds to victims of the Bududa landslides.
Do you have an advertisement or article you want to publish? Mail us at theugreports@gmail.com or WhatsApp +256394700683.
